Real Estate Sales Surpass Previous 6 Years in July

According to a report released by the REALTORS® Association of Edmonton yesterday, residential real estate sales last month totalled 2013 sales in July, up 9.7% over last July. In fact, they were ahead of the past 6 July’s in the Greater Edmonton Area. As we reported last week, there was a large increase in condo sales in July, which obviously had an impact on the overall residential total.

Liv Real Estate Edmonton Market Snapshot

The demand for real estate remains strong and in line with other market fundamentals,” said Greg Steele, Association President.

Sales

The average residential price in the Greater Edmonton Area was $362,091 in July, up 3.2% from the same time last year. The median sale price was $345,000 in July, up 3% from last July.

Average

The end of month inventory sat at 5,609 listings in July, down 3.9% from last July. Despite there an increase in listings, inventory has remained lower than previous years, because sales have been so strong.

Inventory

There were 2,718 new listings in the greater Edmonton area in July, up 6.9% from last year.

New Listings

All in all the market is behaving as you’d expect at this time of year; sales and prices are declining on a month over month basis, but remain ahead of the past few years. With the economic conditions in the capital region as they are, this trend will likely continue.

Sara MacLennan is the Director of Marketing at Liv Real Estate and a licensed Real Estate Associate. The bulk of Sara’s experience and wealth of expertise lies in on-line technology and marketing both for agents and consumers. Sara is the former National Director for Interactive Marketing for Coldwell Banker Canada where she was responsible for an extensive training program traveling to offices across the country training agents and brokers on marketing and technology. Find Sara on Twitter @edmontonblogger.

Sara MacLennan is the Director of Marketing at Liv Real Estate and a licensed Real Estate Associate. The bulk of Sara’s experience and wealth of expertise lies in on-line technology and marketing both for agents and consumers. Sara is the former National Director for Interactive Marketing for Coldwell Banker Canada where she was responsible for an extensive training program traveling to offices across the country training agents and brokers on marketing and technology. Find Sara on Twitter @edmontonblogger.

GM

So it’s “Top 10 viewed/searched neighbourhoods”. Not necessarily top 10 desirable neighbourhoods to live in. Maybe many of the searches are just people curious to see what prices are like in those areas.
For example, maybe someone lived there previously and sold because they hated it there. Now that they’ve sold and moved out they are interested to see what prices are doing there.

JoJo

The purpose of MLS is to allow people to search for houses available. The traffic should always be assumed to be made up of primarily people who are looking for available houses which is the intention of the site. There are always exceptions but you can’t base a site’s statistics on “what if” cases. The same applies to any site.

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The information posted by the authors of this blog is believed to be correct but is not warranted to be so. The authors take no responsibility for its use whatsoever. We take no responsibility for the comments posted by third parties. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA)

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